Health Insurance for self emplyed

[DarkMasterMX]

When I stopped going to school to run the family business I lost my health coverage. I've gone quite a few years now without it but I figure it may be a good time to figure that out.

I don't often get sick or require doctors attention/medication but god forbid something happens I'd rather not leave the family with some bill to cover. What have you guys used or would you recommend? Ideally it includes some level of dental since paying for yearly check ups is annoying when it costs $100+ for some fluoride and floss . I have a few cavities too that likely over time will need to get looked at so I'd prefer to not pay straight out of my pocket.

I skimmed the bluecross health plans and was quoted somewhere in $65.00 monthly for basic coverage and hospital benefits. But I'm not sure what other options are out there that are good.

[James_TheVirus]

A number of people on the forum recommended www.brockhealth.ca to me and so far it has been great. They are a small company and seem to do a really good job.

[Starkicker]

Does anyone know of a provider or coverage for someone who is employed by a company, but the company doesn't have a health insurance plan?

[weebg]

This is what I use: http://www.costplus.ca/

It's basically like a flex spending account, except that you administer it and there are no limits. The basic idea is that you send Cost Plus your health receipts (dental, drug, etc) and a cheque for that amount from your business account, and they send you back a personal check of that same amount. Cost Plus makes their money by charging an 8% "administration fee".

The end result is that you get money out of your business account into your own bank account for an 8% fee (as opposed to paying it out at your regular tax rate). You are using pre-tax dollars to pay for your health costs.

[adeel]

This is what I use: http://www.costplus.ca/

It's basically like a flex spending account, except that you administer it and there are no limits. The basic idea is that you send Cost Plus your health receipts (dental, drug, etc) and a cheque for that amount from your business account, and they send you back a personal check of that same amount. Cost Plus makes their money by charging an 8% "administration fee".

The end result is that you get money out of your business account into your own bank account for an 8% fee (as opposed to paying it out at your regular tax rate). You are using pre-tax dollars to pay for your health costs.

maybe you should look into switching to brock health? Same thing, except only 5% admin fee instead of 8%

[ice168]

maybe you should look into switching to brock health? Same thing, except only 5% admin fee instead of 8%

+1 for brock health

[cosmica76]

I would like to recommend this website about your dilemma: http://lsminsurance.ca/
Definitely you can find out some very important information there.

[Just Confused]

Does anyone know of a provider or coverage for someone who is employed by a company, but the company doesn't have a health insurance plan?

Employees who do not have employer coverage only have one option; selecting one of the premium based insured plans from providers like Blue Cross, ManuLife etc.

Unfortunately, employees are not able to directly access tax-friendly plans (such as PHSP's and so on). Those benefits are only available to people who run businesses. I've mentioned it before, but it bears repeating... Tax laws are written by business people for business people. Of course, the inference is you should start a sideline small business to start participating in some of those benefits... after all this is an entrepreneurship forum so you likely have at least some interest in it.

[sksman]

Ive heard of Cost Plus Plans where your expenese become a business write off. Can remember a company name though.

Something like you have a $500 dental bill, you get and expense for $550 through the insurance company.

[Just Confused]

Ive heard of Cost Plus Plans where your expenese become a business write off. Can remember a company name though.

Something like you have a $500 dental bill, you get and expense for $550 through the insurance company.

Yes, that is what most of the respondents are talking about. They are called Private Health Services Plans or PHSP for short and Brock Health (www.brockhealth.ca) is one company that offers them. Every established small business should have one.

[sassysue]

Looking at http://www.brockhealth.ca right now and im quite amazed is it true that you do not pay a monthly fee? just pay the 5% and $100.00 enrollment fee and thats all?

[adeel]

Looking at http://www.brockhealth.ca right now and im quite amazed is it true that you do not pay a monthly fee? just pay the 5% and $100.00 enrollment fee and thats all?

Yeah, seems like it.

Also, get your accountant to speak to them - they seem to offer a promotion to accountants whereby they will waive the startup fee for each customer lead they provide:

If you wish to provide a value added service to your clients, Brock Health Administration will reduce the $100 enrolment fee charged to your referred clients. Contact us now to make immediate arrangements, for offering this service to your clients.

[sassysue]

Yeah, seems like it.

Also, get your accountant to speak to them - they seem to offer a promotion to accountants whereby they will waive the startup fee for each customer lead they provide:

If you wish to provide a value added service to your clients, Brock Health Administration will reduce the $100 enrolment fee charged to your referred clients. Contact us now to make immediate arrangements, for offering this service to your clients.

dam such a great price gotta take advantage of this thanks.

[sassysue]

i applied today if ur corp you get unlimited access if your sole properator there is limited to 1500 for everything!

[dazz]

I don't understand...Blue Cross Dental + Health is like 180 bucks and they cover like 75%.
$100 Enrollment and they pretty much cover 95%?? No monthly payments?? How can they afford that?